Smart money going long on crude oil ETFs
Joe Weinman
Jul. 3, 2007

The crude oil price is on the move. The smart money is going long heavily on crude oil. The technical, analytics, and the fundamentals are giving the crude oil a green signal. The price target is close to $78 per barrel in the next couple of months, or before.

The accumulation pattern by the smart money also confirms that scenario. The crude oil ETFs are ready to rise sharply. The smart money is chasing it in increasing volume. They also plan to distribute the same at the top of the range.

It seems Jim Rogers is right. Crude oil can eventually test $100 a barrel. It will not happen at this time. This is a cyclical run up with a larger bear cycle. But the grand cycle in crude support far higher prices. Perhaps next year in 2008 we will finally see $125 in crude oil. This time in the next two months crude can test the high seventies and consolidate after that for a long time.

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Smart money going long on crude oil ETFs
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The technical, analytics, and the fundamentals are giving the crude oil a green signal. The price target is close to $78 per barrel in the next couple of months, or before.
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